The interest on home equity loans is typically tax deductible. The interest on a boat loan can be deductible if the boat qualifies as a second home (and you don't already have two homes). I think that requires a bed, head and galley, all installed permanently. A cooler, camp stove and port potty don't count.

If you use the home equity loan, just be sure you perform all the due diligence that a marine lender would if they were lending you the money: title searches, proper filing of new title/registration, notorized bill of sale, insurance, survey, escrow to hold deposit, etc.

Where are you and/or the boat located? There may be some recommendations on who to use. Maritime lending is a specialty. Unfortunately, I think small loan amounts are hard to get. Too much work for the lender to make money on it.

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Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.